This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Claude Resources CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: CGR

Revenue was up in the quarter, obviously the higher gold price helped quite a bit. Again, cash costs have been frustratingly high. It's predominantly a function, probably 50/50 of the lower grade and then higher labor and consumable rates that we are all facing in the industry but again, notwithstanding, that 12,000 ounce number, we expect to see increase. We were profitable and did generate reasonable cash flow during the quarter.

Gold production, as I said, was just over 12,000. We sold 12,300 ounces. Net profit was modest but again it gives you an idea about what we can accomplish going forward as production increases.

On page six, if you are following on our chart, we have been getting questions about our balance sheet. At the end of the quarter, we were negative $1.6 million in cash. We did have a line of credit available. Short term debt increased substantially and long term debt went down substantially during the quarter and the reason for that is our $10 million, or $9.8 million debenture which matures in May of 2013 became a current liability because it is under one year to maturity. So it moved up the long term debt in to short term debt.

As well, in the short term debt, we have about $9 million worth of just under that equipment lease or equipment financing at the Seabee operation, where we used to lease that equipment. We have converted that to a fixed term debt and the fact that it's got gold provisions on it, means that we have to include it in short term liabilities as well, although we don’t have any expectation that that debt would be called.

Read the rest of this transcript for free on

3 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,854.98 +76.83 0.43%
S&P 500 2,075.92 +14.69 0.71%
NASDAQ 4,776.3570 +27.9610 0.59%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs